XBI Option Traders Looking For A Bearish Close To 2020

Measuring the initial seed wave of its current trend would place the target range for the trend in the $137.50 to $143.50 range. Those values are approximately 223.6% and 261.8% of the initial move, respectively. That would indicate upwards of $10 of potential upside in the near term.

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The trade that was made on XBI is somewhat of a lottery ticket trade based on a large move lower in biotech. While the technical picture still looks strong, sometimes this is when these types of trades work out the best given their low probability, low risk, and high reward attributes.

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